… Many researchers have given particular emphasis on the importance of innovation strategy … The Blue Ocean Strategy forcing the company to destroy bloody compete of Red Ocean ... Eskandari, M. J., Miri, M., & Allahyary, A. (2015). Thinking of the blue ocean-strategy beyond the competition. Asian Journal of Research in Business Economics and Management, 5(8), 134-145.

how Commercial Bank of Africa has adopted the blue ocean strategy. ... https://pdfs.semanticscholar.org/7597/83c87d551d7cb27d61204b0b70bd7b6ebeb3.pdf

Definition of 'Blue Ocean Strategy'

Definition: 'Blue Ocean Strategy is referred to a market for a product where there is no competition or very less competition. This strategy revolves around searching for a business in which very few firms operate and where there is no pricing pressure.

Description: Blue Ocean Strategy can be applied across sectors or businesses. It is not limited to just one business. But, let's first understand what is Blue Ocean and how it is different from Red Ocean strategy.

In today's environment most firms operate under intense competition and try to do everything to gain market share. When the product comes under pricing pressure there is always a possibility that a firm’s operations could well come under threat. This situation usually comes when the business is operating in a saturated market, also known as 'Red Ocean'.

When there is limited room to grow, businesses try and look for verticals or avenues of finding new business where they can enjoy uncontested market share or 'Blue Ocean'. A blue ocean exists when there is potential for higher profits, as there is now competition or irrelevant competition.

The strategy aims to capture new demand, and to make competition irrelevant by introducing a product with superior features. It helps the company in make huge profits as the product can be priced a little steep because of its unique features.

Let's understand Blue Ocean strategy with the help of an example. Apple ventured into digital music in 2003 with its product iTunes.

Apple users can download legal and high quality music at a reasonable price from iTunes making traditional sources of distribution of music irrelevant. Earlier compact disks or CDs were used as a traditional medium to distribute and listen to music.

Apple was successful in capturing the growing demand of music for users on the go. All the available Apple products have iTunes for users to download music.

The Economics Times

Blue Ocean Strategy

03 July, 2020, 02:47 PM IST

Dear Dr. Neema Lemanya ,

Blue Ocean Strategy is referred to a market for a product where there is no competition or very less competition. This strategy revolves around searching for a business in which very few firms operate and where there is no pricing pressure.

Hi, This article talk about: Impact of Blue Ocean Strategy on Organizational Performance: A literature review toward implementation logic:

http://www.iosrjournals.org/iosr-jbm/papers/Vol19-issue1/Version-3/A1901030119.pdf